iconiifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

GNFC's tender offer repurchase is scheduled to begin on December 1st; stock loses early morning gains

30 Nov 2023 , 02:51 PM

After the business announced a share buyback programme via tender offer on Wednesday, November 29 after market hours, investors continued to keep an eye on Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) shares on Thursday, November 30. 

Early morning trade on the NSE saw the stock rise as much as 1% from its opening price of Rs 695 to Rs 697.45, which was the day's high. The stock was trading at Rs 682.7 a share at the time the copy was written, down Rs 5.25, or 0.76%, on NSE.

On Friday, December 1st, the GNFC buyback will begin, and it will end on Thursday, December 7th. Through a tender offer, the business intends to repurchase up to 84.78 lakh equity shares at a face value of Rs 10 apiece, or 5.46% of its total paid-up equity capital.

The buyback price per share has been set by the business at Rs 770. A tender offer buyback essentially entails shareholders being able to tender their equity shares to the company for repurchase at a predetermined price within the buyback period.

According to the company's exchange report, the company's earnings for the second quarter ended in September decreased by 24% year over year to Rs 182 crore. The operational revenue suffered as well, falling by about 20% year over year to Rs 2080 crore in the quarter. Additionally, the company's margins took a hit, declining to 8.1% from 11.9% in the same time the previous year.

For feedback and suggestions, write to us at editorial@iifl.com

Gujarat Narmada Valley Fertilizers & Chemicals Limited

Related Tags

  • Gujarat Narmada Valley Fertilisers & Chemicals
  • Share Buyback
sidebar mobile


Read More

Most Read News

4 Mar 2024   |   09:10 AM
4 Mar 2024   |   06:22 PM
4 Mar 2024   |   08:40 AM
4 Mar 2024   |   06:37 PM
Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.